Nifty Prediction for Monday
“A sustained break below this support could extend the decline toward 24,300-24,200, which has previously acted as a demand zone,” stated Ponmudi R, highlighting the critical levels for Nifty as it approaches the new trading week.
Nifty is expected to open with a gap-down on March 9, 2026, with GIFT Nifty trading about 274 points lower at 24,300. This follows a challenging week for the Indian stock markets, where Nifty 50 closed at 24,450, marking a decline of 2.9%. Similarly, the Sensex settled at 78,919, also down 2.9%, while Bank Nifty dropped 4.5% to close near 57,783.
The recent market downturn has been attributed to heavy selling pressure, particularly from foreign institutional investors (FIIs), who sold equities worth Rs 21,831 crore during the first week of March. In contrast, domestic institutional investors (DIIs) bought equities worth Rs 32,787 crore during the same period, indicating a divergence in market sentiment.
Adding to the market’s woes, crude oil prices surged nearly 25% during the week, raising concerns about inflation and the overall economic outlook. Vinod Nair commented, “A sustained rise in oil prices could weigh on investor sentiment and adversely affect India’s twin deficits, inflation trajectory and the RBI’s monetary stance.”
The 24,300 level is seen as crucial support for Nifty, with immediate resistance anticipated around 24,700-24,900. Analysts suggest that if Nifty falls below 24,300, it could drag prices toward 24,000 or even 23,500, which are considered strong long-term supports.
Despite the current market conditions, one analyst noted, “The current fall is going to give us a very good long-term buying opportunity.” This perspective reflects a belief that the market may present favorable entry points for investors willing to adopt a long-term view.
In light of the heightened geopolitical risks and continued FII outflows, Ajit Mishra advised that investors should adopt a cautious and disciplined approach in the near term. The market’s volatility underscores the importance of strategic investment decisions as traders prepare for the upcoming week.
Details remain unconfirmed regarding the potential impact of ongoing geopolitical tensions on market performance. As the situation evolves, investors will be closely monitoring developments that could influence market dynamics.
